The FINANCIAL -- Georgia's investment potential, prospects for developing trade-economic relations and strong cooperation in tourism and agriculture have been discussed at the meeting of President Giorgi Margvelashvili with the Prime Minister of the United Arab Emirates, Sheikh Mohammed bin Rashid Al Maktoum in Dubai.
At the meeting, President Margvelashvili has underscored the great importance that Georgia places on strengthening relations with the Gulf Cooperation Council (GCC) and its member states, especially in trade-economic direction.
According to President Margvelashvili, Georgian authorities highly appreciate the significant investments of the United Arab Emirates in Georgia. Georgia is looking forward to further developing cooperation in this direction. It is noteworthy that the Emirates first invested in Georgia in 2003; while in the period from 2006 to 2017, the volume of investments reached 841.08 million US dollars.
The prospects for initiating a free trade agreement between Georgia and the United Arab Emirates have also been discussed. Importance of the agreement on investment promotion and security that entered into force on April 8 has also been underscored.
As noted, as a result of numerous reforms, Georgia has become a liberal, stable, safe and corrupt-free business environment. Considering its geographical location and free trade regimes with China, Turkey, the CIS countries and the European Union, Georgia outstands as an attractive location for investment.
The parties have also discussed the cooperation in tourism and agriculture. As noted, Georgia actively works to develop various resort zones and infrastructure in order to further advance wellness tourism and attract investors.
According to the Head of the Administration of President Margvelashvili, Mr. Giorgi Abashishvili, the Emirates increasingly invests in Georgia and shows interest in the country’s investment potential.
"We already have investors who plan to expand their investment in Georgia. We have introduced them to the new investment opportunities that are opened up in the country. We think that the current and next year will be an entirely new stage for the advancement of economic relations between the two countries,” Mr. Abashishvili said.
Georgian delegation having attended the meeting include the First Vice Prime Minister and Minister of Economy and Sustainable Development Dimitri Kumsishvili, Head of the Administration of President Margvelashvili Giorgi Abashishvili, Secretary of the National Security Council Davit Rakviashvili, Deputy Minister of Foreign Affairs Giorgi Sharvashidze, Advisor to President Margvelashvili for Foreign Affairs Tengiz Pkhaladze and Ambassador Extraordinary and Plenipotentiary of Georgia to the United Arab Emirates Roland Beridze.